Journal
IEEE TRANSACTIONS ON POWER SYSTEMS
Volume 37, Issue 3, Pages 1809-1819Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TPWRS.2021.3110497
Keywords
Energy storage; Load modeling; Optimization; Uncertainty; Energy loss; Computational modeling; Probability distribution; Power system security and risk analysis; capacity value; reliability theory; dynamic programming; energy storage
Categories
Funding
- National Science Foundation [1808169]
- Electric Power Research Institute [00-10007617]
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Energy storage is important for ensuring resource adequacy in power systems. However, estimating its contribution is complicated by its limited energy capacity and sensitivity to load patterns.
Energy storage can contribute to the resource-adequacy needs of power systems. However, the energy-limited nature of energy storage complicates estimating its resource-adequacy contribution. Energy storage that discharges to mitigate a loss-of-load event may have less energy available to mitigate a subsequent loss-of-load event. We present a stochastic-dynamic-optimization approach to capture such impacts endogenously. We demonstrate our approach using an example and two case studies, which show that energy storage's capacity value is sensitive to the load patterns of the system in which it is deployed.
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